All Forum Posts by: Tara S.

i thought you looked familiar! Thats awesome! Are you coming to the BP meet up this week?

your going to go far dont let anyone or anything stand in your way. Wish i started at your age! I am a NJ realtor if you ever have any questions feel free to reach out! in the mean time search for and analyze deals now so you have it perfected by the time your ready to hit the ground running!

Also just to evict the tenants it’s going to cost a few dollars depending on how easily you can get them to leave some may leave on their own some may leave for $500 but I’d they refuse to leave that’s going to be hard. Cash for keys is easier then going to court. Have you looked into what the comps are for other places to rent in that area is that rent standard? Or could you raise them?

Will 7k be enough for the renovations? Those numbers seem awfully tight. My advice pay for the appraisal and see what number they come up with because with rents that low the property sounds over priced. Not sure your market though I’m in NJ

What are the numbers in the deal. What are you purchasing for, what amount do you need to invest in the repairs and what do u expect the ARV to be. At the end of the day its a numbers game so if you can make the numbers work and make a profit then take it as is. If they are asking to much for the property and after the repairs theres no money left In the deal then you need to negotiate on either money off purchase price or walking away. Also take into factor you will have to evict or pay cash for keys to the current tenants bc they are prob not the type of tenants you want to deal with especially the one with 10 people.

@Cameron Riley in my opinion always use a LLC because if you get sued the LLC is liable not you in other words u won't loose your home. Or if you have multiple then get a LLC for each one so this way if something happens with one property it doesn't cause a domino effect and u loose them all. It keeps each property Independent. Some hard money lenders require you to have a LLC specific for that home too.

@Andrew Powers use Zillow as a guideline but do your own research because it’s hit or miss sometimes their pretty close and others they are FAR off so use your best judgment.

@Russ Marlborough if the numbers work at 150 who cares what the appraiser said. Their just a educated opinion. If the numbers are outstanding at 150 don’t miss out.

@Isaac Johnson don’t change your mind your rite. Multi family is key. Flip single family hold multi family. Once your experienced move on to commercial properties.

@Andrew Smith you can find them in the MLS or anywhere online you just have to get creative and see something no one else sees in a run down property but there are opportunities everywhere as long as you know what your looking for.